Trade ideas for June 14-18
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
GBP/USD finds a support
During the conference in Hague, German Chancellor Angela Merkel said that the EU would find a backstop solution by October 31 (Brexit deadline). GBP/USD positively reacted to her comments and jumped by more than 140 pips. At the moment of writing, the cable has been testing the resistance at 1.2250. If this level is broken, the next resistance will lie at 1.23. If bears take over the market, the pair will reverse towards the 1.2108 level. The next key level for bears will be placed at 1.2042.
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The GBP may be supported
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time.
Is all good with the AUD?
The RBA Rate Statement comes on June 1, at 07:30 GMT+3.
Latest news
NZD Rises on Strong Job Data and Other News
Read a short market wrap before trading today!
The USD Awaits Key Jobs Data
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Gold May Form Double Top & Flat Strategy for S&P
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!
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